Price of rice increases in domestic market because of low stock

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Workers unloading sacks of rice from a ship at a jetty in Yangon. Photo: Phoe Khwar

The price of low-quality rice has increased because of low stock in the local market, while that of the good-quality rice has also risen, according to traders from the Bayintnaung and Wahdan wholesale rice markets.
The price of low-quality rice has risen by Ks500 to Ks2,300 per bag depending upon the brand, while that of good-quality rice rose by Ks500 to Ks2,000 per bag compared to last week.
“The price of rice is still increasing because Myanmar is exporting the rice from sea routes. The main problem is that, despite high demand, there is low stock in the local market,” said U Aung Myint, a rice merchant.
“These days, Myanmar is exporting rice from sea routes; therefore, the price of rice is likely to increase. Although the rice stock is low in the local market, the rice will be enough until the new paddy arrives the market”, he added.
New shipments of low-quality rice to local markets will come from the western part of Bago Region. In mid October, new low-quality rice will reach markets across the nation. Good-quality rice will arrive in local markets by the end of October, according to local paddy cultivators.
Currently, Pyapon Pawsan rice is selling for between Ks33,000 and 35,000 per bag, while Dedaye Pawsan costs between Ks33,500 and Ks35,000 per bag. The price of Pathein Pawsan is between Ks34,000 and Ks37,000, while Pawsan from across the nation is selling for between Ks32,000 and Ks 34,000. Ehmata (Monsoon) costs between Ks21,500 and Ks22,500 whereas Ehmata (25 per cent) costs between Ks21,000 and Ks21,500. The rice grown with the summer multiple cropping method sells for Ks23,000 and Ks23,300 and summer rice (harvested within 90 days) costs between Ks24,000 and Ks24,500, according to the rice market.



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